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  • Son Heung-min Scores and Assists in LAFCs Draw Against Real Salt Lake
    Son Heung-min Scores and Assists in LAFC's Draw Against Real Salt Lake Son Heung-min, playing for Los Angeles FC (LAFC) in Major League Soccer (MLS), scored for the first time in eight games. However, his team could not break its winless streak.On September 6, LAFC drew 2-2 against Real Salt Lake in a road match at America First Field in Salt Lake City, Utah.Starting the match and playing the full 90 minutes, Son recorded one goal and one assist, bringing his season total to 5 goals and 11 assists in the regular league. In all competitions this season, including the CONCACAF Champions Cup, he has 7 goals and 18 assists.In the 14th minute, Son and Denis Bouanga combined for the opening goal. Son provided a through ball that Bouanga dribbled past defenders before finishing with a right-footed shot.After conceding an equalizer in the 18th minute, Son became the scorer in the 38th minute. Bouanga, cutting in from the left, passed to Son, who calmly finished with a left-footed shot.This marked Son's first goal since August 2, when he played against the Vancouver Whitecaps, resulting in a 1-1 draw.However, LAFC could not maintain its lead, conceding a goal to Noel Caliskan in the 75th minute.In the 87th minute, Son had a golden opportunity to secure a win. He broke through the defense and attempted a shot after rounding the goalkeeper, but was thwarted by a tackle from DeAndre Yedlin, missing the chance for a decisive goal.With the match ending in a 2-2 draw, LAFC extended its winless streak to six games in the regular season (four draws and two losses) and remains in third place in the Western Conference with 37 points (10 wins, 7 draws, and 7 losses).* This article has been translated by AI. 2026-09-06 14:24:00
  • Universal Public Rental Housing to Improve Location and Quality, Key is Affordable Housing Costs
    Universal Public Rental Housing to Improve Location and Quality, Key is Affordable Housing Costs The Ministry of Land, Infrastructure and Transport has emphasized that for the universal public rental housing, set to be introduced next year, to serve as a safety net for the homeless, it must not only be located in preferred areas with high living standards but also offer affordable deposits and rents.According to the ministry on September 6, the universal public rental housing program aims to provide public rentals at levels comparable to private housing in desirable locations, such as transit-oriented developments in the third phase of new towns and central areas of Seoul, while relaxing income and asset criteria to accommodate a wider range of homeless individuals.Potential supply sites include the S10 block in Wangsuk, Namyangju, the AC2-1 block in Gyeyang, Incheon, and the public complex site in Gyosan, Hanam. The basic residency period is set at six years, but it can be extended based on childbirth and the number of children, allowing families with three or more children to stay for up to 20 years. More than 50% of the total units will be allocated to young people without homes.While existing public rentals primarily target low-income individuals, the universal public rental housing differs by expanding eligibility and improving housing quality to accommodate a broader range of homeless individuals.However, the specific methods for calculating deposits and rents have not yet been disclosed. Even with relaxed entry criteria and improved locations and sizes, if actual housing costs remain high, accessibility for young people and the homeless may decrease.Public rental housing costs can be designed based on surrounding market prices, housing supply costs, and the income of tenants. If linked to market prices, areas with high home and rental prices will see increases in deposits and rents. Even if based on supply costs, rising land and construction costs could lead to higher rents. Differentiating rents based on income could reduce tenant burdens, but would require financial support from the government and public institutions.The long-term lease housing program by the Seoul Housing and Communities Corporation (SH) has a different pricing structure than the universal public rental housing, but it illustrates the potential burdens that can arise when public rentals in desirable locations are linked to market prices. Long-term leases calculate deposits based on the average contract amounts of nearby complexes, meaning that as surrounding rental prices rise, so do the deposits.In the recent eighth recruitment announcement for long-term lease housing (Miril House), the deposit for a 59 square meter unit in Cheongdam, Gangnam, was set at 1.17 billion won, while a 84 square meter unit in Banpo-dong, Seocho-gu, was priced at 1.3884 billion won.In last month's 51st long-term lease housing recruitment announcement, out of a total of 1,381 units, 421 units (30.5%) had deposits exceeding the basic total asset limit of 662 million won applicable to childless households. Additionally, 82 units (5.9%) had deposits of over 1 billion won. Even if the asset criteria are met, significant funds are still required for entry.However, there are concerns about the limits of lowering housing costs while improving location and quality. Lee Eun-hyung, a researcher at the Korea Construction Policy Institute, stated, “In a situation where resources and supply capacity are not infinite, there are limits to providing spacious and high-quality housing at low prices. To recover input costs, a certain level of rent is necessary, making it difficult to simply lower supply prices.”Consequently, there are calls for the public sector to devise ways to reduce supply costs, including land and construction expenses.Kwon Dae-jung, a professor of real estate economics at Hansung University, noted, “Since universal public rental housing is rental housing rather than for sale, we need to consider ways to lower housing costs. Securing affordable land for supply could help reduce rents.” He added, “As costs for rental housing increase, the burden of monthly rents will inevitably rise. It is also crucial for the public sector to find ways to lower costs such as land and construction expenses.”* This article has been translated by AI. 2026-09-06 14:12:00
  • 168 Public Institutions in the Seoul Metropolitan Area: Will Second Relocation Lead to Urban Housing Supply?
    168 Public Institutions in the Seoul Metropolitan Area: Will Second Relocation Lead to Urban Housing Supply? The government is accelerating the second phase of relocating public institutions, raising interest in whether the remaining facilities and land in the Seoul metropolitan area can be repurposed for new housing. With 168 public institutions headquartered in the metropolitan area, discussions may arise on utilizing vacant land in key locations in Seoul and Gyeonggi for housing once the relocation targets are confirmed.According to the Public Institution Management Information Disclosure System (ALIO) on September 6, 168 of the 355 public institutions nationwide are based in the metropolitan area, accounting for 47.3% of the total.Regionally, there are 130 institutions in Seoul, 29 in Gyeonggi, and 9 in Incheon, with institutions in Seoul making up 77.4% of the metropolitan total.Seoul hosts numerous organizations, including public enterprises like SR and the Korea Airports Corporation, as well as the Korea Trade-Investment Promotion Agency (KOTRA), the Korea Deposit Insurance Corporation, the Korea Trade Insurance Corporation, the Korea Development Bank, and the Export-Import Bank of Korea.The core principle of the second phase of public institution relocation, announced by the government on September 3, is to 'minimize remaining institutions in the metropolitan area.'The government plans to reassess the criteria for remaining institutions that were applied during the first phase of relocation, aiming to move those that do not have a compelling reason to stay in the metropolitan area to provincial locations. The government intends to finalize the relocation plan in the fourth quarter of this year and begin relocating leading institutions in 2027.Attention is now focused on how to utilize the metropolitan sites vacated by institutions that move to provincial areas.As the government pushes to expand housing supply in the metropolitan area, public institution sites in transit-oriented developments or urban centers could become viable candidates for housing without the need for large-scale land acquisition. Given the challenges of securing new residential land in Seoul, the mixed-use development of public facilities and vacant land is seen as a potential strategy for increasing urban housing supply.A government official stated, "If there is available land after the relocation of public institutions, discussions about housing supply could certainly be connected," but added, "We are not yet at the stage of related discussions." There is also a precedent for this approach. In a plan announced on January 29 to expand urban housing supply, the government decided to provide 1,500 housing units on the site of the Korea Defense Research Institute and the Korea Economic Development Exhibition Hall in Dongdaemun-gu, Seoul.Additionally, 1,300 housing units will be supplied on the sites of the Korea Administrative Research Institute, the Korea Environmental Industry Technology Institute, the Korea Gender Equality Education Institute, and the Korea Women's Policy Institute in Eunpyeong-gu, Seoul. This plan involves relocating public institutions and supplying a total of 2,800 housing units on the existing sites.As the second phase of relocation gains momentum, there is potential for additional sites to be identified for similar use.One of the candidates mentioned is the Korea National Research Institute located in Bundang-gu, Seongnam, which is close to Pangyo Techno Valley and has a relatively large site. If it is included in the actual relocation targets, discussions on land utilization may follow.Industry insiders noted, "Not all 168 public institutions in the metropolitan area will relocate, and even if they do, not all sites can be used for housing. Institutions in leased buildings will not generate available land, and existing sites must be evaluated based on size, zoning, and transportation and educational infrastructure." 2026-09-06 14:12:00
  • Lotte Engineering Wins Contract for Dogok Woosung Reconstruction, Surpassing 4 Trillion Won in Urban Renewal Projects
    Lotte Engineering Wins Contract for Dogok Woosung Reconstruction, Surpassing 4 Trillion Won in Urban Renewal Projects Lotte Engineering announced on September 6 that it has been selected as the construction company for the Dogok Woosung Apartment reconstruction project in Gangnam, Seoul.The reconstruction will transform the existing complex into a six-story underground and 26-story above-ground structure, comprising four buildings with a total of 566 units. Additional community facilities will also be developed. The total construction cost is estimated at 400.2 billion won.Lotte Engineering proposed the name 'Dogok Leel' for the complex, incorporating its high-end residential brand. The company plans to collaborate with the global architectural firm JERDE to enhance the exterior design.Community amenities will include a sky lounge with views of Lotte World Tower, Daemosan, and the Gangnam city center, as well as landscaped areas featuring walking paths, grassy plazas, and gardens that harmonize with nature.With this contract, Lotte Engineering's total urban renewal project contracts for the year have increased to six, totaling 4.1 trillion won. Major projects include the redevelopment of the Seongsu Strategic Maintenance Zone District 4 (1.3492 trillion won), public redevelopment in Anyang's Chungunbu area (756.7 billion won), redevelopment of the Geumho 21 district (624.2 billion won), reconstruction of the Garak Geukdong Apartments (484 billion won), and reconstruction of the Yongho District 3 in Changwon (396.7 billion won).Notably, the total contract amount for projects in Seoul, including Dogok Woosung, stands at 2.8576 trillion won, accounting for 71.2% of the overall contracts. Among these, the Seongsu Strategic Maintenance Zone District 4 represents the largest share at 33.6% of the total contract performance.Following the Dogok Woosung contract, Lotte Engineering plans to pursue additional projects in the Gangnam area and Mokdong, as well as a mixed-use public housing project near the Aksu Station and a public redevelopment project in the Myeonmok 9 district.A Lotte Engineering official stated, "Based on our accumulated construction capabilities and project experience, we plan to complete the Dogok Woosung Apartment as a landmark residential complex representing Gangnam."* This article has been translated by AI. 2026-09-06 13:44:10
  • Jung Jeom-sik Questions Ministerial Nominee Yong Hye-ins Alleged Underworld Ties
    Jung Jeom-sik Questions Ministerial Nominee Yong Hye-in's Alleged Underworld Ties Jung Jeom-sik, the floor leader of the People Power Party, criticized on September 6 the allegations surrounding Yong Hye-in, the nominee for Minister of Gender Equality and Family, regarding her supposed connections to an "underworld" organization. He stated that the upcoming confirmation hearing would not be about Yong Hye-in but rather a "hearing on the Kim Gil-o underworld organization." He urged Yong to resign from both her ministerial nomination and her position as a lawmaker.In a post on his Facebook page, Jung remarked, "Yong is merely a political product presented by the underworld organization. There are growing suspicions that an underworld organization centered around Kim is operating behind the scenes."He further questioned whether President Yoon Suk-yeol's past decision to grant Yong a second opportunity as a proportional representative and now a chance to serve as Minister of Gender Equality and Family was aimed at supporting the underworld organization.Jung also referenced allegations that Kim Hyun-ji, the chief of the presidential office's first secretariat and a close aide to the president, was involved in the appointments. He stated, "Kim, who is believed to have orchestrated all these appointments, remains shrouded in secrecy, creating a true triangle of mystery involving Yong Hye-in, Kim Gil-o, and Kim Hyun-ji."He concluded that the confirmation hearing, which he believes will focus on the underworld organization, should not take place. Instead, he suggested that nominating Kim, the actual head of the underworld, for the ministerial position would be a more transparent choice. He reiterated that Yong should resign from both her ministerial nomination and her parliamentary role.Jung emphasized, "The public did not vote for the Democratic Party to provide government subsidies to a cult-like underworld organization."* This article has been translated by AI. 2026-09-06 13:44:00
  • The Forest Has Swallowed the Path: Memories of Life on Mount Hwaak
    The Forest Has Swallowed the Path: Memories of Life on Mount Hwaak "People used to walk here all the time," said 64-year-old Kil Bong-soon, pointing beyond the thicket on September 5 in the northern foothills of Mount Hwaak in Hwacheon County, Gangwon Province. Before her, there was no visible path; brush and weeds had overtaken the area, and old trees loomed overhead. Without Kil's guidance, it would be hard to recognize that this was once a well-trodden route.However, Kil's memories are not the only remnants of the past. According to the National Archives, the forest management project began in the mid-1960s in Gangwon Province, with a focus on relocating and settling forest dwellers in the 1970s.Records related to the Samil Branch School indicate that it was established in 1954 but closed in 1995 due to declining student numbers, which were attributed to the "eviction of forest dwellers in the 1970s." This intersection of local memories and historical records highlights the impact of these changes.As Kil led the way along the old logging road, she recalled, "It used to be a footpath where people gathered wild greens and herbs." The path I walked on was the same location she remembered, but it looked different now. Where people once walked, grass had grown, and trees had taken root in their absence.Deeper into the woods, birch trees appeared, their orderly planting evident, yet they were now intertwined with underbrush and weeds. Kil noted, "The birch trees line both sides of the road, providing good shade and keeping it cool even in summer."As the sound of vehicles faded, the sound of water flowing could be heard from beyond the thicket. Water cascaded down the sloped rocks. "The water flows over the rocks, looking like a dragon moving," Kil remarked.The flow was not substantial, and the dense foliage made it difficult to see the entire waterway. Kil recalled that there were more such streams deeper within Mount Hwaak, but precise locations and details would require further investigation.What captivated me during the interview was not just the waterway itself but the stories Kil shared each time she paused. In her memories, Mount Hwaak was once frequented by many more people.She recounted how residents would traverse the mountain to gather wild greens and herbs, and that logging activities also took place. Some locals even cultivated crops like potatoes.The backdrop to these memories is the forest management project initiated by the government in the 1960s and intensified in the 1970s. Records from the National Archives confirm that efforts were made to settle and relocate forest dwellers during this period.Local records regarding the Samil Branch School also indicate that the eviction of forest dwellers was a significant factor in the decline of student numbers, suggesting that the forest management project affected the lives of Samil residents. However, this investigation did not uncover specific administrative records detailing where forest dwellers lived in the northern foothills of Mount Hwaak or how and when they relocated.Listening to Kil's explanations, I looked around again. There were no houses or fields in sight, just trees. Without someone to tell me, it would be hard to guess that people once used this mountain as a living space.As we continued walking, Kil pointed out the directions where people used to travel. Yet, following her finger, I found mostly forest. As the paths disappeared, so too did the memories.The northern foothills of Mount Hwaak do not only hold the promise of new scenic views. They also preserve the history of where footpaths once existed, the routes people took, and what they cultivated and foraged from the mountain.Old place names, mountain paths, and the practices of gathering wild greens and herbs do not remain in visible forms like buildings. If we investigate the oral histories of residents who remember that time, along with administrative documents and old maps, we could reconstruct the living history of the northern foothills of Mount Hwaak more concretely.After concluding the interview, I headed back toward the Hwaak Tunnel. Looking back, the mountain I had just walked seemed like an ordinary forest again. But for Kil, it was not just a forest. There were paths once walked, fields once tended, and the lives of people who moved through the mountain in search of sustenance.Most of those traces are now hidden beneath trees and grass. Kil gazed at the mountain and said, "People used to walk here all the time." The path has nearly vanished, but those who remember it still remain.* This article has been translated by AI. 2026-09-06 13:40:00
  • U.S. and Iran Engage in Direct Attacks on Oil Tankers in Hormuz Strait
    U.S. and Iran Engage in Direct Attacks on Oil Tankers in Hormuz Strait On September 5, the United States and Iran escalated their conflict by directly targeting each other's oil tankers and naval vessels near the Hormuz Strait and in adjacent waters. Analysts suggest that the U.S. focus on Iran's oil export network is intensifying economic pressure on Iran. According to Reuters, the Islamic Revolutionary Guard Corps (IRGC) of Iran announced that it attacked three oil tankers passing through an 'unauthorized route' in the Hormuz Strait, as well as three U.S.-related vessels in other waters. This retaliation followed an earlier incident where Iran fired ballistic missiles at two U.S. Navy ships, prompting the U.S. to strike three Iranian tankers. The U.S. Central Command (CENTCOM) reported that U.S. forces successfully evaded Iranian attacks and rendered Iranian oil tankers near Kharg Island and other vessels inoperable. U.S. Central Commander Brad Cooper warned in a statement, "If you attack our two ships, you will pay a greater economic price. We will eliminate your three vessels." In response, the IRGC cautioned against suspicious movements in unauthorized waterways. The U.S. attack near Kharg Island, a key hub for Iranian oil exports, has heightened tensions. Further strikes on Kharg Island could impose additional pressure on Iran's already struggling oil industry and economy, which has been affected by U.S. sanctions. Iranian authorities have warned of a strong response if Kharg Island is attacked. As the blockade surrounding the Hormuz Strait continues, analysts predict that Iran's economic burdens will increase. The Wall Street Journal reported on September 4 that both Iran and the U.S. are attempting to outlast each other in the blockade, but recent developments appear to be unfavorable for Iran. Since July, Iran has been unable to export oil from the Persian Gulf due to U.S. sanctions, while the U.S. has been supporting Gulf Arab nations in transporting significant amounts of oil through the Hormuz Strait despite Iranian attacks. According to maritime intelligence firm TankerTrackers.com, approximately 5 million barrels of oil have exited the Hormuz Strait daily over the past 28 days, with almost none being Iranian oil. About 2.5 million barrels are being exported daily through oil ports in Oman, such as Fujairah in the UAE. Samir Madani, co-founder of TankerTrackers.com, noted to the WSJ, "Iran's blockade has more holes than the U.S. blockade." While oil transport through the Hormuz Strait has not been completely halted, the U.S. blockade has specifically targeted Iranian oil exports, resulting in a relatively greater impact on Iran's economy. The WSJ also pointed out that the U.S. faces its own political and economic burdens due to the conflict, but stated, "Time is not on Iran's side." As economic pressures on Iran mount, there is speculation that the country may seek to negotiate or, alternatively, escalate military actions to enhance its bargaining power. Bali Nasr, a professor of Middle Eastern studies at Johns Hopkins University, told the WSJ, "One option is to capitulate, and the other is to escalate significantly to fight their way out of a corner. The latter may be the more likely choice." He explained that by increasing military pressure, Iran believes it can ultimately return to the negotiating table while minimizing concessions. 2026-09-06 12:20:00
  • Bond-Mixed ETFs Surge Amid Stock Market Volatility, Assets Jump 59% This Year
    Bond-Mixed ETFs Surge Amid Stock Market Volatility, Assets Jump 59% This Year As stock market volatility increases, funds are flowing into bond-mixed exchange-traded funds (ETFs) that combine stocks and bonds. The total assets of related ETFs have surged nearly 60% this year, surpassing 24 trillion won.According to financial information provider FnGuide, as of September 3, the total net assets of domestic bond-mixed ETFs were recorded at 24.3725 trillion won. This figure excludes target date fund (TDF) ETFs and includes both domestic and foreign bonds. Compared to 15.3208 trillion won at the end of January, this represents a 59.1% increase.The growth of domestic bond-mixed ETFs, excluding foreign bonds, has been even more pronounced. During the same period, total net assets rose from 9.4766 trillion won to 15.6017 trillion won, marking a 64.6% increase.Bond-mixed ETFs operate by combining stocks and bonds within a single product. They aim to provide stability through bonds while seeking additional returns from rising stock markets.Notably, bond-mixed ETFs with less than 50% stock allocation are classified as safe assets under retirement pension regulations, allowing for up to 100% inclusion in accounts. This has led to increased utilization by investors looking to raise their effective stock investment ratio within retirement accounts.In fact, the total net assets of domestic and foreign bond-mixed ETFs swelled to 25.6227 trillion won during a period of strong stock market performance in June. Although this figure has since decreased to the 24 trillion won range due to increased market volatility, it still represents approximately 1.6 times the amount compared to the beginning of the year.With retirement pension reserves exceeding 500 trillion won, the demand for stock investments through pension accounts continues to grow, contributing to market expansion. Investors are drawn to the potential for stock price increases while benefiting from relatively lower volatility compared to pure stock ETFs.Asset management firms are also accelerating the launch of related products. From January to August this year, a total of 18 new bond-mixed ETFs were listed, including 12 domestic bond ETFs and 6 foreign bond ETFs.Notably, products combining semiconductors and bonds have stood out. Among the 18 newly listed bond-mixed ETFs this year, 11 include domestic and foreign semiconductor stocks such as Samsung Electronics and SK Hynix. All four products launched last month also incorporated semiconductor stocks in their equity components.Han Soo-jin, a senior researcher at Samsung Securities, stated, "The demand for retirement pensions seeking to maintain stock investment ratios while reducing volatility is driving the growth of bond-mixed ETFs. The products are expanding from combining existing representative indices with bonds to incorporating individual stocks or themes along with bonds."* This article has been translated by AI. 2026-09-06 12:16:00
  • Financial Supervisory Service to Focus on Incomplete Sales of Insurance and Funds
    Financial Supervisory Service to Focus on Incomplete Sales of Insurance and Funds 금융감독원이 목표전환형 펀드와 보험상품 불완전판매를 집중 점검한다. 은행의 대출 취급 중단·조건 변경에 대한 사전 안내도 강화하기로 했다. 이찬진 금융감독원장은 4일 제4차 소비자위험대응협의회를 열고 업권별 소비자 위험요인과 대응 방안을 논의했다.금감원은 최근 국내 증시에 대한 관심이 높아지면서 목표전환형 펀드 판매가 크게 늘어난 만큼 불완전판매 가능성을 점검하기로 했다. 특히 펀드판매사가 실적을 위해 수수료 구조에 대한 충분한 설명 없이 환매와 신규 상품 재가입을 유도할 가능성을 우려했다. 보험상품 브리핑·박람회 영업 과정의 불건전 영업행위도 점검한다. 금감원은 보험설계사가 종신보험을 저축 목적으로 설명하거나 중요사항을 제대로 알리지 않는 등 설명의무를 지키지 않는 사례가 발생하고 있다고 지적했다. 손해사정 제도도 정비한다. 독립손해사정 활성화 등 제도 개선 이후에도 세부 운영기준이 마련되지 않았거나 손해사정서 내용을 확인하기 어려워 발생하는 민원이 증가하고 있다는 판단에서다. 손해사정 관련 민원은 2024년 122건에서 2025년 441건, 올해 상반기 271건으로 증가했다.금감원은 손해사정제도 정비 태스크포스(TF)를 운영해 독립손해사정 관련 세부 운영방안을 마련하고 손해사정서 작성 실태도 점검하기로 했다.은행의 예금·대출 등 금융상품 취급 중단이나 조건 변경에 대한 사전 안내도 강화한다. 금감원은 예금·대출·투자상품의 취급 중단이나 주요 조건 변경 때 소비자에게 안내하는 방안을 마련하도록 했다.이 원장은 "대내외 불확실성이 지속되는 만큼 업권별 주요 위험요인을 예의주시하고 소비자 피해가 우려되는 경우 즉각적이고 단호하게 대응해야 한다"고 말했다. 이어 "금융회사들이 소비자의 투자성향과 거래 목적에 맞는 상품을 권유하고 수수료와 숨은 비용 등을 충분히 설명해야 한다"며 "추석 연휴를 앞두고 보이스피싱 등 민생범죄와 금융사고 예방에도 만전을 기해달라"고 주문했다. * This article has been translated by AI. 2026-09-06 12:00:20
  • Financial Supervisory Service Transitions Licensing and Insurance Registration Online
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